“Cyprus Insurance Holds Agency Information Meeting to Discuss Steps for Country’s Insurance Sector”
Cyprus Insurance Agency held an information meeting at the Cyprus Turkish Chamber of Commerce Conference Hall, discussing the importance of developing and promoting the insurance sector in the country. Cyprus Insurance Chairman of the Board Sami Güneş demanded that the state issue necessary laws and regulations to bolster the sector to be able to compete globally. He urged the state and Insurance Association to work on expanding full coverage health insurance, travel insurance, and new construction insurances in the country. Additionally, Güneş mentioned the 6 February earthquake and stressed that necessary legal regulations need to be made to correct the low rate of house insurance in the country. Raif Çukurovalı, the President of the TRNC Insurers Association, emphasized the importance of developing and promoting insurance as it is the only sector that protects the values of the country. President Ersin Tatar also highlighted the importance of insurance and urged agricultural producers to take out agricultural insurance rather than expecting state allowances due to drought. Tatar noted that the premiums paid for social insurance are insufficient to cover hospital and treatment expenses as well as retirement pensions.
